The poor cousin no more...
Marc Hayes, manager of Friends Provident's fund strategy and selection group, examines the rise and rise of alternatives, and what this means for defined-contribution pension schemes
It's not often that you will see the word 'pioneer' written alongside 'institutional investing' but there is a growing trend that warrants this accolade and the imagery it conjures up.
The trend is a move towards the exotic as professional investors increasingly turn to alternative investments in an attempt to diversify their portfolios and reduce risk.
the yale model
One of the early pioneers of this - David Swensen, chief investment officer at Yale University - has spent the last 20 years turning
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